Zenith Bank redeems $500m Eurobond

Zenith Bank

Zenith Bank Plc has redeemed the balance of $107.4million of its $500million Eurobond Notes due May 30, 2022.
The bank said it further demonstrates its highly diversified and robust funding sources, and its impeccable pedigree and track records in treasury management.

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The Eurobond Notes were issued on May 30, 2017, as the second tranche of the bank’s $1billion Global Medium Term Note Programme, with a 5-year tenor and coupon of 7.375percent.

Zenith Bank had in September 2019 redeemed $392.6million of the Notes through a Cash Transfer Offer ahead of its maturity date of May 30, 2022.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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